PrivateBancorp has repaid $243.8 million of TARP funds in full, adding to the $45.5 million in dividends it paid during the term of the investment.

The PrivateBancorp repayment means the Troubled Asset Relief Program has made a positive return on its bank programs of $22 billion, the US Department of Treasury said. It still has warrants to purchase common stock in PrivateBancorp, allowing it to achieve a further positive return.

“Today's repayment is part of the strategy that Treasury outlined in May 2012 for winding down its remaining TARP bank investments in a way that protects taxpayer interests, promotes financial stability, and preserves the strength of our nation's community banks,” the Treasury said in a statement.

It intends to use a combination of repayments, restructurings, and sales to manage and recover remaining investments.